As we move towards the dog days of summer, there’s a very real chance that hiring could become firing at the investment banks of the world. Nomura’s evisceration of credit traders is a likely prelude to deeper cuts at Credit Suisse, Deutsche and Barclays. Only compliance and control staff, ever hunted, needed in exponential numbers, are assured their pick of jobs in the months to December.

But….banks are still hiring for the front office. And some of the front office jobs they’re hiring for now are big payers. If you’re looking for a job that pays well and needs a body to fill it soon, try the list below. Be warned, however. Away from mid-ranking M&A jobs, recruiters in London say it’s already a buyers market: “Every bank is looking to get value for money these days. There are so few jobs around that as soon as something good is advertised there are tons of applicants.”

It’s not often that investment banks advertise managing director jobs, but J.P. Morgan is. The U.S. bank is looking for an MD to lead oil and gas ‘acquisitions and divestitures’ specifically at its Houston office. The individual concerned will lead the team, and will need, ‘a minimum of 15 years banking A&D experience.’ A U.S. based headhunter says the role is likely to pay seven figures (in dollar terms).

Goldman Sachs wants to make a senior hire to its merchant banking division. This is the division which, ‘invests third party investors’ capital alongside GS capital in a broad range of strategies including corporate private equity, corporate private credit, real estate and infrastructure.’ In other words, it’s a sort of private equity fund where Goldman and its clients invest together. The bank is specifically looking to hire someone for its private credit team. This team invests in, ‘senior bank debt, subordinated debt, opportunistic credit, corporate financings and equity co-investments mostly in private-equity led LBO.’ Goldman says it’s raised a lot of funds, and needs to invest them.

On the cusp between VP end ED, the role is pretty senior. The ideal candidate needs seven to nine years’ experience. Speaking off the record, one headhunter says the role is likely to offer a base salary of £175k, plus a bonus. The total package is likely to be in excess of £300k.

Reflecting the booming M&A market, J.P. Morgan wants a VP/ED who specializes in ratings agencies to work in its FIG team. The perfect candidate will have ‘significant’ FIG or insurance investment banking experience.’ Headhunters in London, speaking off the record (again), say the role is likely to carry a base salary of £150k to £200k and total compensation of £250k to £500k.

Deutsche Bank may be in the midst of a strategy rethink under its new CEO, but it’s still hiring for its fixed income business. The German bank is currently advertising for a VP-level foreign exchange trader to work in London. FX headhunters say the role is likely to come with total compensation of around £200k. Once upon a time, it might have paid more, but these days candidates are plentiful at the junior end. “You’re going to need to be a very, very good young trader to get a bonus of more than 100%,” says one headhunter.

Deutsche Bank is also hiring for its rates businesses. Rates traders have been doing well this year and should benefit from a 10% pay hike according to U.S. search firm Options Group. Even so, headhunters say this VP-level role is unlikely to pay much more than £250k. “Banks are still struggling to generate the sorts of revenues they made historically in rates trading,” says one headhunter. “And now that they have higher salaries to cover, they will be looking to save on bonuses.”

Morgan Stanley is looking for someone to research, develop and back-test its client execution algorithms. You’ll need a PHD. One quant recruiter says the base is likely to be around £120k The bonus will vary: it could be as little as £30k. It could be as high as £80k. It all depends how much opportunity you have to generate profits.

Morgan Stanley’s equities business had a very good second quarter: revenues rose by 28% year-on-year between April and June. This might be one reason why the bank is also hiring a senior steels analyst for its metals and mining team. It will help if you have previous metals and mining experience. It will help too if you have a CFA/MBA or ACA and a ‘curious, creative mind.’ One equity research headhunter says the role is likely to command a base salary of around £150k, plus a £100k bonus.

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If you remember Nomura’s results, you’ll remember that the Japanese bank’s fixed income currencies and commodities (FICC) trading division, which was once doing so, so well, suddenly isn’t. Fixed income